274-unit complex sells for $21.6 mil

real-estate news

West Town Court LLC of Denver sold West Town Court at 8400 W. Virginia Ave. in Phoenix to ROC II AZ West Town Court LLC of Murray, Utah, for $21.6 million. Mark Forrester and Rick Holway of Hendricks & Partners in Phoenix represented the seller. The buyer was self-represented in the purchase of this 274-unit apartment community.

Major deals

MECG-Arrowhead 1 LLC, et al, of California sold Arrowhead Commerce Center at 8581-8643 W. Kelton Lane in Peoria to Arrowhead Commerce Center Partners LLC of Phoenix for $7.3 million. Paul Boyle and Rick Danis of Cassidy Turley BRE Commercial's capital-markets group and Tom Atkinson and John Pompay with its industrial group represented the seller. The buyer of this 120,948 -square-foot industrial park was self-represented. Built in 1999, the three-building property was 73 percent leased at the time of sale.

ML Manager LLC sold the Metropolitan Lofts at 535 W. Thomas Road in Phoenix to Lead Properties V LLC of Centennial, Colo., for $2.7 million. David Fogler, Steven Nicoluzakis and Don Arones of Cassidy Turley BRE Commercial in Phoenix represented the seller. The buyer was self-represented in the sale of the 61-unit partially completed residential community.

Verifications Inc., a hiring-solutions provider based in Minneapolis, signed a five-year lease for 20,179 square feet of office space in the Warner Crossing Business Park at 8260 S. Hardy Drive in Tempe with a special servicing company representing U.S. Bank NA in Phoenix. Scott Nelson and Troy Nelson of Voit Real Estate Services in Phoenix represented the landlord. Mike Beall of Cushman & Wakefield represented the tenant in this $1.3 million transaction. According to the Costar Group, this transaction was the 10th-largest office lease completed in metro Phoenix in the first quarter of this year.

Piller Child Development LLC signed an 85-month office lease for 1,400 square feet in the Spectrum Village at 3011 S. Lindsay Road in Gilbert with LaFeber & Coleman Holdings LLC. Tom Bean and Laurel Lewis of NAI Horizon in Phoenix represented the landlord, and Langdon Bridges of Commercial Properties represented the tenant.

Cabezudo Associates LLC signed a 25-month office lease for 1,733 square feet of space at the Ahwatukee Office Plaza at 11011 S. 48th St. in Phoenix with Ahwatukee Office Plaza LLC. Barbara Lloyd of NAI Horizon in Phoenix represented the landlord, and Jennifer Keeler and Paul Honeycutt, also with NAI Horizon, represented the tenant.

Phoenix Ophthalmologist PA signed a 90-month office lease for 3,188 square feet of space in Camelot Square at 1130 E. Missouri Ave. in Phoenix with Alice Avenue LLC. Peggy Johnson and Leslie Zavos of NAI Horizon in Phoenix represented the landlord, and Mike Dupuy of Colliers International represented the tenant.

Promotions and hires

Richard Winterich joined Resolute Commercial Services as senior managing director. He will be assisting with manufacturing-based operating companies and mergers and acquisitions advisory services. Winterich has over 35 years of experience in mergers and acquisitions, receivership, debt restructuring, financial advisory services, strategic planning, cash-flow management and expense control. He received his accounting degree from Baldwin-Wallace College.

JasonWitte joined Coldwell Banker Residential Brokerage in Chandler as an associate broker. He founded JW Realty Group in 2009 with an emphasis on providing clients with highly specialized information to guide the decision-making process in buying, selling or renting a home.